Reply With QuoteNot sure what their business model is but the prices on Chrono24 are in need of a serious correction...no wonder business has been slow!
https://www.watchpro.com/chrono24-cu...eze-continues/
The Subdial50, which tracks prices for the 50 most traded watches, is down by 33% over the past 12 months.
Not sure what their business model is but the prices on Chrono24 are in need of a serious correction...no wonder business has been slow!
Yes, a period of price correction indeed.
Fmf
Thing is, that reference point for price falls is pretty sensitive to timing - my watches are pretty much at the same place they were in November 2021 when I obtained insurance valuations.
In April 2022, some of them had increased by 50% in that period, so it was just a short term ramp up that’s settled back down, pretty much same thing has happened with high end cars
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Dealers hike the prices because Chrono24 charge between 6 to 7% commission alongside their monthly hosting fees. This commission is new and was introduced about 18 months ago. Since then dealers raised their prices, and a lot of dealers left the platform. So it's no real surprise that they are experience fewer transactions.
Prices may need to be lowered, but as noted the dealers set the price based on C24 margin - so dealers hike prices.
In turn C24 (and dealers) generate profit cash flow only with sales. A sales entity would normally lower prices to generate cash flow and pay staff, but C24 can’t as prices are set by the delayers.
A bit of a Catch-22. I wonder if fees might be lowered to try to generate more revenue? Or if they ride it out.
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